There are a number of ways to finance your dream home in the sun – releasing equity in your UK home for example, or taking out a mortgage with a foreign bank.Whichever you decide upon, Bravo will be on hand throughout to help ensure the finance is in place as quickly and as easily as possible.
Releasing equity
If you have equity in your home here in the UK (by ‘equity’ we mean if your house is worth more than the mortgage you have on it) you could consider re-mortgaging as a means of releasing funds. It’s worth noting that with this method you may be increasing your overall debt – but on the plus side, the money you release will be going straight back into your property in the sun.
Arranging a mortgage
You can approach the many foreign High Street banks direct about a mortgage. Or, if you prefer, we can introduce you to an advisor or broker from our partners at Bravo Finance who will talk you through the need-to-know and the good-to-know of borrowing in your preferred country. In Spain for example, you can take out a mortgage of up to 70% of the valuation of the property, whereas in Italy you can borrow up to 50% of the valuation.
Currency exchange
Transferring money abroad from the UK? Our partners, Global Currency Exchange Network, can save you both money and hassle. One of the UK’s leading foreign exchange companies with 20 years experience in the sector, they’ll secure you the best exchange rate and make sure that all payments are made on time.